U.S. Debts Tops Size of Entire Economy

See IBD, "An Unwelcome Debt Milestone."

With $14.5 trillion in total debt, we're already in deep trouble. Where will we be in 2021, 10 years from now, when total federal debt is expected to reach as high as $28 trillion and GDP is (generously, in our view) expected to reach $23.8 trillion? Then, by conservative estimates, our debt-to-GDP ratio will be close to 120%.

In short, debt will be a permanent millstone around the neck of the once-vibrant U.S. economy.